Basilea Pharmaceutica and Johnson and Johnson worked together on the drug for MRSA infections and after not meeting quality and monitoring standards with both 
the FDA and European Regulators, J and J says goodbye to Basilea and you are on your own, no more money. J and J conducted the trials and with the reporting not complete, results were determined to be unreliable.
This does not mean that there could not be another opportunity for the drug if Basilea wants to continue to pursue with their own money, and it could be the reporting process only that did not give the drug approval possibly. I might guess Basilea might pursue a breach of contract here as well. This is not the first incident of J and J looking a purse strings, there have been a few other incidents in the news of late.
Johnson and Johnson Pulls GeneSearch Breast Cancer Diagnosis Test – Trials Ended
Johnson and Johnson Cancels Contract with Palomar – Unfavorable Economic Conditions Stated For A Massive Product Launch
What we are seeing to be a trend here is the lack of big pharma to invest in some areas of drug and device development. They have also had the big Tylenol recall. 
Tylenol Arthritis Formula Recall Expanded to All Product Lots with Red EZ-Open Cap – Johnson and Johnson
Too bad they were not using something like Microsoft Tags that would have really simplified the recall effort and added greatly to consumer safety.
Tags for Use in Healthcare – Medical Stents, Medications - One Scan Away From Safety Information in Real Time
Windows Tags – Bar Coding Information Made Easy from your Cell Phone
The company has been making out big with billions in court settlements in the last year, which basically nobody who needs healthcare or a device really cares that much about in as much as they just want to be able to afford one especially if it is a life saving device or drug.
J and J Gets 1.7 Billion Wins Battle, Doctors, Hospitals and Patients Lose on the High Cost of “Legally” Patented Stents
Johnson and Johnson and Abbott Labs – Battle for Intellectual Property Solved – Expensive for Abbott
Amidst all of the rest of the news we heard last year about reducing the job force and restructuring and recently J and J announced that performance bonuses were to be cut for some employees while some remained the same.
Johnson and Johnson To Eliminate More Than 7000 Jobs
Small biotech companies are finding it a little bit more difficult to attract and maintain big pharma dollars as the element of risk with biotech development is a gamble and the shift is going back to the small companies who either get bought out or simply pack up and go away with all their technology developed. BD
ZURICH—Basilea Holding AG said Friday that U.S. health-care giant Johnson & Johnson, its development partner for its key drug ceftobiprole, handed back full rights for the drug after European regulators rejected it.
The development is the latest turn in a dispute between the two companies over the antibiotic, which targets methicillin-resistant staphylococcus aureus—the drug-resistant organism known as MSRA responsible for many hospital-acquired-infection deaths.
J&J Relinquishes Rights to Drug - WSJ.com.
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